Business ColumnistsOpinionGovernment Spending, Not Corporations or Oil Prices, Fuels Inflation00CopyFacebookXTruthGettrLinkedInTelegramEmailSavePrintPacks of freshly printed $20 bills are processed for bundling at the U.S. Treasury's Bureau of Engraving and Printing in Washington, D.C., in a file photo. Eva Hambach/AFP via Getty ImagesDaniel Lacalle4/22/2024|Updated: 4/30/20240:00X 1CommentaryGovernments could stop inflation today. What follows is why they will not.We had a problem loading this article. Please enable javascript or use a different browser. If the issue persists, please visit our help center.Share this articleLeave a commentDaniel LacalleAuthorDaniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat” (2015), and “Life in the Financial Markets.”websiteAuthor’s Selected ArticlesThe United States Outgrows All Its Major PeersNov 03, 2025US Economy Defies Recession and Stagflation PredictionsOct 04, 2025Central Banks Do Not Prevent Financial Crises or Control InflationAug 23, 2025The European Union’s Agreement With the United States Is Positive and RealisticAug 04, 2025